What is Norfolk Southern's capex?

Norfolk Southern (NSC) reported capex of $382M in Q1 2026.

How has Norfolk Southern's capex changed year-over-year?

Norfolk Southern's capex decreased by 14.9% year-over-year, from $449M to $382M.

What is the long-term trend for Norfolk Southern's capex?

Over 4 years (2021 to 2025), Norfolk Southern's capex has grown at a 10.7% compound annual growth rate (CAGR), from $1.47B to $2.2B.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Norfolk Southern NSC CapEx

CapEx at other companies

Canadian Pacific Kansas CityCP

$664M-6.6%

Chesapeake Utilities CorporationCPK

$141.9M+24.7%

Union PacificUNP

$937M+3.4%

CSXCSX

$543M-24.5%

WabtecWAB

$46M+4.5%

Wabash NationalWNC

$3.43M-60.6%

Other financials

Income statement

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Revenue$3.0B+0.2%

Operating income$877.0M-23.5%

Net income$547.0M-27.1%

EPS (diluted)$2.43-26.6%

Balance sheet

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Cash & equivalents$1.3B+33.3%

Total debt$236.0M-17.2%

Total equity$15.8B+8.9%

Total assets$45.1B+3.0%

Cash flow

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Operating cash flow$344.0M-63.8%

Free cash flow-$38.0M-108%

Valuation

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Market cap$70.09B+22.8%

P/E26.3×+9.1×

P/S5.8×+1.0×

Profitability

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Operating margin33.5%-7.8pp

Net margin21.9%-5.5pp

FCF margin13.3%-2.3pp

Returns & leverage

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Return on equity17.6%-6.9pp

Debt / equity0×0.0×

Current ratio0.9×+0.1×

Where this comes from

Reported directly by Norfolk Southern in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Norfolk Southern’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Norfolk Southern's capex?: Norfolk Southern (NSC) reported capex of $382M in Q1 2026.
How has Norfolk Southern's capex changed year-over-year?: Norfolk Southern's capex decreased by 14.9% year-over-year, from $449M to $382M.
What is the long-term trend for Norfolk Southern's capex?: Over 4 years (2021 to 2025), Norfolk Southern's capex has grown at a 10.7% compound annual growth rate (CAGR), from $1.47B to $2.2B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.